Bharat Road Network Ltd. (IN:BRNL)
:BRNL
Want to see IN:BRNL full AI Analyst Report?
Top Page
Bharat Road Network Ltd.
(BRNL)
Select Model
Select Model
Rating:45Neutral
Price Target:
₹19.00
▼(-13.79% Downside)
Action:Reiterated
Date:06/05/26
The score is driven primarily by weak financial performance, with sharply negative 2026 profitability and cash flow outweighing an improved leverage profile. Technicals add further pressure due to a price below key moving averages and negative MACD. Valuation does not provide support because the company is loss-making (negative P/E) and no dividend yield is available.
Positive Factors
Balance-sheet Improvement
Material deleveraging to ~1.1x lowers refinancing and interest-rate pressure for an infrastructure operator, improving financial flexibility. This reduction in leverage provides a more durable buffer to absorb cyclical downturns and supports funding for maintenance or selective growth.
Negative Factors
Sharp Revenue Decline
A near 44% revenue collapse materially reduces scale benefits and strains fixed-cost coverage for an infrastructure operator. Sustained top-line weakness undermines margin sustainability, increases unit costs, and raises the risk that assets cannot cover operating or financing needs over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance-sheet Improvement
Material deleveraging to ~1.1x lowers refinancing and interest-rate pressure for an infrastructure operator, improving financial flexibility. This reduction in leverage provides a more durable buffer to absorb cyclical downturns and supports funding for maintenance or selective growth.
Read all positive factors
Bharat Road Network Ltd. (BRNL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹1.63B
Dividend YieldN/A
Average Volume (3M)13.47K
Price to Earnings (P/E)―
Beta (1Y)1.22
Revenue Growth-43.74%
EPS Growth-152.37%
CountryIN
Employees166
SectorServices
Sector StrengthN/A
IndustryIndustrial - Infrastructure Operations
Share Statistics
EPS (TTM)21.70
Shares Outstanding83,950,000
10 Day Avg. Volume18,106
30 Day Avg. Volume13,469
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)0.18
Price to Sales (P/S)0.46
P/FCF Ratio-0.38
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Bharat Road Network Ltd. Business Overview & Revenue Model
Company Description
Bharat Road Network Limited designs, develops, builds, owns, operates, and transfers road and related services in India. It offers financial and concession management, tolling operations and highway management, and financial and project management...
How the Company Makes Money
null...
Bharat Road Network Ltd. Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
52
Neutral
Cash Flow
31
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.58B | 1.54B | 2.74B | 3.80B | 3.26B | 2.16B |
| Gross Profit | 984.15M | -899.91M | 1.27B | 2.88B | 636.95M | 1.39B |
| EBITDA | 2.47B | -243.86M | 2.62B | 1.49B | 269.31M | -452.03M |
| Net Income | 1.79B | -296.44M | 1.41B | -1.12B | -2.10B | -3.76B |
Balance Sheet | ||||||
| Total Assets | 16.07B | 14.36B | 14.35B | 27.34B | 27.06B | 28.46B |
| Cash, Cash Equivalents and Short-Term Investments | 7.52B | 3.50B | 2.23B | 2.76B | 2.22B | 609.29M |
| Total Debt | 4.34B | 4.34B | 4.34B | 13.28B | 14.13B | 14.92B |
| Total Liabilities | 10.45B | 9.01B | 10.12B | 24.48B | 23.07B | 22.44B |
| Stockholders Equity | 4.13B | 4.03B | 3.31B | 1.90B | 3.02B | 5.09B |
Cash Flow | ||||||
| Free Cash Flow | -681.98M | -1.88B | 246.94M | 2.60B | 2.51B | -63.20M |
| Operating Cash Flow | -612.51M | -1.81B | 768.53M | 3.65B | 2.59B | 219.49M |
| Investing Cash Flow | 1.08B | 3.03B | -518.32M | -2.08B | 807.52M | 1.96B |
| Financing Cash Flow | 0.00 | 0.00 | -620.46M | -2.14B | -2.50B | -2.33B |
Bharat Road Network Ltd. Technical Analysis
Negative
22.04
Price Trends
20.22
Negative
20.11
Negative
21.31
Negative
Market Momentum
-0.28
Positive
40.53
Neutral
14.50
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:BRNL, the sentiment is Negative. The current price of 22.04 is above the 20-day moving average (MA) of 20.20, above the 50-day MA of 20.22, and above the 200-day MA of 21.31, indicating a bearish trend. The MACD of -0.28 indicates Positive momentum. The RSI at 40.53 is Neutral, neither overbought nor oversold. The STOCH value of 14.50 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:BRNL.
Bharat Road Network Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | ₹1.46B | 21.21 | ― | ― | -6.18% | -16.00% | |
55 Neutral | $13.29B | 17.42 | 10.03% | 0.93% | 7.13% | -12.93% | |
51 Neutral | ₹1.59B | 6.24 | ― | ― | -6.15% | ― | |
46 Neutral | ₹3.05B | 24.67 | ― | 0.47% | 4.13% | -84.27% | |
45 Neutral | ₹1.63B | -3.15 | ― | ― | -43.74% | -152.37% |
* Services Sector Average
IN:BRNL
Bharat Road Network Ltd.
19.40
-3.69
-15.98%
IN:IL&FSTRANS
IL&FS Transportation Networks Limited
2.44
-0.80
-24.69%
IN:INDBANK
Indbank Merchant Banking Services Limited
33.62
-1.93
-5.43%
IN:MEP
MEP Infrastructure Developers Ltd.
0.88
-1.37
-60.89%
IN:RPPINFRA
RPP Infra Projects Ltd.
60.66
-82.12
-57.52%
IN:SADBHAV
Sadbhav Engineering Limited
9.62
-4.28
-30.79%
Bharat Road Network Ltd. Corporate Events
Bharat Road Network Publishes Audited FY26 Results in Newspapers
Jun 1, 2026
Bharat Road Network Limited has published the extract of its audited standalone and consolidated financial results for the year ended 31 March 2026 in English and Bengali newspapers, in compliance with SEBI’s disclosure regulations. The comp...
Bharat Road Network clears FY26 results, defers promoter reclassification decision
May 30, 2026
Bharat Road Network Ltd. said its board has approved the audited standalone and consolidated financial results for the year ended 31 March 2026, and will publish them on its website and in newspapers in line with SEBI listing rules. The company al...
Bharat Road Network Chairman and Independent Director Prof. Santanu Ray Passes Away
Apr 18, 2026
Bharat Road Network Limited announced the sudden demise of Prof. Santanu Ray, who served as Chairman of the Board and Independent Director, on 18 April 2026. His passing brings an immediate vacancy in key board roles and removes a seasoned indepen...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.